ArmInfo.The Minister of Finance of Armenia Atom Jadzhugazyan received the delegation of the agency Fitch Ratings, headed by the director of the department of sovereign rating Eric Erayspom on June 7.
According to the press service of the RA Ministry of Finance, Erik Eraisp informed that the purpose of the monthly visits of the Agency's representatives is to assess the sovereign rating of Armenia. The next rating will be published next week.
During the meeting, the parties discussed issues related to the macroeconomic situation in the country, the management of public debt, and the revision of fiscal rules. The interlocutors also discussed the initiatives being implemented by the government, the process of implementing the programs and the tasks ahead. Atom Janjugazyan highly appreciated the cooperation with Fitch Ratings, and noted that the Armenian side attaches importance to the work done by the Agency in Armenia and the rating assigned to the country.
Earlier, ArmInfo reported that Fitch Ratings affirmed the city of Yerevan ratings: long-term issuer default rating ( "IDR") in foreign and local currency ratings at "B +" with forecast "positive" and Short-term foreign currency - at the level of "B". The affirmation of ratings takes into account the weak institutional environment for local and regional authorities in the country, combined with acceptable budget indicators of the city, supported by stable transfers from the government. The ratings also take into account Yerevan's capital status and zero debt level. The "positive" outlook reflects the outlook for sovereign ratings.
Fitch Ratings (full name - Fitch Ratings Inc.) - American Corporation, known primarily as a rating agency, part of the "big three" rating agencies. The main task is to provide the world credit markets with independent and future-oriented credit ratings, analytical studies and data.